Yiren Digital (NYSE:YRD) Stock Price Down 4% – Here’s Why

Yiren Digital Ltd. (NYSE:YRD)’s stock price fell 4% during mid-day trading on Tuesday . The company traded as low as $6.63 and last traded at $6.68. 38,321 shares traded hands during trading, a decline of 74% from the average session volume of 148,823 shares. The stock had previously closed at $6.95.

Yiren Digital Stock Performance

The business’s 50 day moving average is $6.39 and its 200-day moving average is $5.70. The stock has a market cap of $588.22 million, a price-to-earnings ratio of 2.31 and a beta of 0.65.

Yiren Digital (NYSE:YRD) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $0.52 earnings per share for the quarter. Yiren Digital had a net margin of 32.37% and a return on equity of 20.85%. The firm had revenue of $198.95 million during the quarter.

Yiren Digital Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This is a positive change from Yiren Digital’s previous semi-annual dividend of $0.20. This represents a dividend yield of 2.6%. Yiren Digital’s payout ratio is currently 17.53%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Yiren Digital by 33.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 341,877 shares of the technology company’s stock worth $1,641,000 after buying an additional 85,414 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Yiren Digital by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,088,920 shares of the technology company’s stock valued at $5,225,000 after acquiring an additional 30,641 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Yiren Digital during the 4th quarter worth approximately $138,000. Public Employees Retirement System of Ohio acquired a new position in Yiren Digital during the third quarter worth $153,000. Finally, American Century Companies Inc. purchased a new stake in Yiren Digital in the 4th quarter valued at $107,000. 1.99% of the stock is owned by institutional investors and hedge funds.

Yiren Digital Company Profile

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.